Kerala Gramin Bank housing loans: get instant quotes on Interest rates, Eligibility, Documents, loan EMI and processing fees & charges.
Purpose for Loan:
- For acquiring house site and constructing house thereon.
- For construction of house on the land already owned by the party.
- Purchase of ready built house.
- For making extension/additions to the existing house.
- For carrying out repairs/ to damaged house.
Home Loan applications received for rupees ₹ 419,027 crores till 23 October 2020
Kerala Gramin Bank Home Loan Interest Rates 2018
|HOUSING LOAN GENERAL||Irrespective of Amount||10.25%|
|PREMIUM HOUSING LOAN||Irrespective of Amount||9.45% , a concession of 0.25% from the applicable rate may be provided for Housing Loan Premium (HLP) sanctioned to Government and PSU employees|
|RURAL HOUSING FUND LOAN||Irrespective of Amount||9.62%|
|URBAN HOUSING FUND LOAN||Irrespective of Amount||8.87%|
|Pradhan Mantri Awas Yojana(PMAY)||Upto Rs. 20 Lakhs||9.45% , interest subsidy shall be admissible for the loan amount availed, subject to a cap of Rs 6 Lac|
Eligibility Required for Kerala Gramin Bank Home Loans:
- Individuals who are in gainful employment/profession/business are eligible.
- Age of the applicant should be less than 60 years.
Quantum of Home Loan :
- 75% of estimated cost of construction and cost of site.
- Maximum loan limited to 72 months gross salary/ 6 times the average Annual income.
- Equitable mortgage of plot and house to be constructed.
- One Co-obligants having landed property / sufficient income from salary/other sources.
- Repayable in Equated Monthly Installment.
- Repayment period up to 20 Years.